Oil surged and stocks sold off after the president delivered an unclear case for continuing the war in the Middle East.
Category: Strait of Hormuz
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Markets Bet Big on a Quick End to the Iran War
Global markets rallied as President Trump signaled that the United States may stop fighting soon. But big questions remain about lingering damage.
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The Trump Effect at the Pump as Gas Hits $4 a Gallon
The average price of gasoline in the U.S. has topped $4 a gallon, a multiyear high, as war in the Middle East roils the oil market and slams drivers.
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Iran War’s Latest Economic Toll: Oil at $115 a Barrel
Economists and investors are increasingly pricing in a slowdown, or even a global recession, if the fighting drags on.
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Iran Moves to Formalize Toll Plan in Strait of Hormuz
Tehran has effectively closed off the critical waterway, turning back container ships on Friday, and Iranian lawmakers are considering whether to formalize charging fees to pass.
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How the Iran War Is Costing the Economy Its Buffers
As the U.S.-Israeli campaign enters a second month, analysts see a growing toll. One forecast predicts oil hitting $200 a barrel.
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Iran Keeps a Tight Grip on Strait of Hormuz, Pressuring Shipping and Energy Sectors
Iran has allowed a small number of vessels to pass, but that won’t alleviate pressure or risk for the shipping industry and energy markets any time soon.
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What Happened After a U.S. Warship Hit an Iranian Mine in 1988
President Trump has suggested providing escorts for stranded tankers. A mine strike on a U.S. frigate in the Persian Gulf shows the perils of doing so.
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Cheap Drones Remain Wild Card in Iran war
Stopping Iran’s production of drones is critical to opening the Strait of Hormuz and halting its attacks on Gulf nations. But can it be done?
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Iran Says ‘Non-Hostile’ Ships Can Sail Through the Strait of Hormuz
Ships with no ties to Israel or the United States would be allowed to pass, the government said, but it was unclear if any vessels would try.
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War in Iran Reveals Strait of Hormuz’s Weakness as an Oil Bottleneck
But at just 35 miles wide, it did. It’s just the latest evidence of how dependent the global economy is on a handful of choke points.